Is My Business Ready to Franchise?
Six Basics that can Help you Decide
1. Is it working? - In order to franchise a business, the business model must first be proven. There’s no law, of course, requiring that a franchisor demonstrate competence,
1. Is it working? - In order to franchise a business, the business model must first be proven. There’s no law, of course, requiring that a franchisor demonstrate competence,
1. Chronic High Stress - The work is intense on a fairly ongoing basis with few periods of "downtime" to recover.
1. Your existing location is running smoothly. - While the existing store doesn't need items flying off shelves it certainly helps.
In a study of U.S. and European companies, The Boston Consulting Group found that "over the past fifteen years,
1. Anticipate - Most of the focus at most companies is on what’s directly ahead. The leaders lack “peripheral vision.”
1. Quantity: The number of units produced, processed or sold is a good objective indicator of performance. Be careful of placing too much emphasis on quantity, lest quality suffer.